​Full year earnings were up 4 per cent at $US2.68 per US share. On an accounting basis earnings per share were slightly lower for the quarter and flat for the full year. The company declared a 10 per cent lift in its quarterly dividend of US33¢.

Mick Farrell, chief executive of ResMed, said the acquisition of Brightree is going well. Luis Ascui

"Our goal is to meet or beat that," he said. ResMed's US-listed shares rose just under 1 per cent to $US65.70, near the year high. ResMed's Australian shares jumped 6 per cent to $9.17. Citi analyst Victor Windeyer said new sleep masks, Brightree and growth in Europe should deliver balanced growth in the short and medium term. He maintained his "buy" rating.

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Integration progressing well

June quarter revenues increased 8 per cent to $US483 million excluding Brightree, and 15 per cent including Brightree. Adjusted net income rose 8 per cent to $US104 million for the quarter and 3 per cent to $379 million for the full year.

Brightree, which adds health management software to ResMed's leading position in sleep apnoea masks and machines, was included for most of the June quarter and chipped in $US32 million of revenue.

Mr Farrell said the integration of the company was going well. "We are really excited about it," he said. "The numbers are really good. This business is growing in the mid-teens (in revenues)".

ResMed also bought Texas-based portable oxygen therapy group Inova Labs and Chinese sleep device company Curative Medical during the past year for undisclosed sums.

A patient wears a Resmad CPAP machine that helps people breathe properly while sleeping. Craig Sillitoe

The deals put ResMed at the forefront of a worldwide trend to use digital technology to make healthcare – one of the world's most wasteful industries – more efficient to absorb the mounting costs of healthcare for ageing populations.

Mr Farrell said Brightree's technology automates back office operations for distributors such as inventories, billing and payments, freeing up resources to be ploughed back into patient care. Connected sleep apnoea devices can send data to the cloud, alerting patients to lapses in their use of the devices. Doing this has improved patient adherence – which is vital to managing chronic diseases – by 20 per cent.

As well as better managing sleep apnoea and lung diseases leading to breathing obstruction caused by chronic obstructive pulmonary disease (COPD), ResMed devices can send respiratory data to healthcare providers managing other chronic diseases such as diabetes and cardiovascular disease.

"We are in mile one of a marathon in sleep apnoea and COPD," Mr Farrell said.

Sleep apnoea is one of the costliest chronic diseases. ResMed

Ben Potter edits the companies & markets section. He previously wrote on energy, climate change and innovation, and has been Washington correspondent and opinion editor. Connect with Ben on Twitter. Email Ben at bpotter@afr.com

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